Could SOURCE PHYSICAL MARKETS PLC SOURCE PHYSICAL SILVER P-ETC Crash Even More? The Stock Just Had a Gap Down

November 29, 2016Clifton Ray

The stock of SOURCE PHYSICAL MARKETS PLC SOURCE PHYSICAL SILVER P-ETC (LON:SSLV) gapped down by GBX 0.023 today and has GBX 15.63 target or 3.00% below today’s GBX 16.11 share price. The 6 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 15.63 price target is reached, the company will be worth GBX less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.00% or GBX 0.16 on November 29, hitting GBX 16.11. About 32,075 shares traded hands. SOURCE PHYSICAL MARKETS PLC SOURCE PHYSICAL SILVER P-ETC (LON:SSLV) has declined 2.22% since April 19, 2016 and is downtrending. It has underperformed by 7.48% the S&P500.